Tax Dictionary – IRS Wage and Income Transcript

IRS Definition

A wage and income transcript shows data from information returns the IRS receives, such as Forms W-2, 1099, 1098 and Form 5498. Current tax year information may not be complete until July. This transcript is available for up to 10 prior years using Get Transcript Online or Form 4506-T.

More from H&R Block

You can request your wage and income transcripts from the IRS. This transcript shows all your income information that your employers, banks, financial institutions, and other payers report to the IRS. Examples of income information reported to the IRS include:

  • Wages on Form W-2
  • Nonemployee compensation on Form 1099-MISC
  • Interest on Form 1099-INT
  • Retirement distributions on Form 1099-R
  • Sale of stocks on Form 1099-B

People often request their wage and income transcripts to verify their income information when they’re preparing tax returns, to respond to a CP2000 notice, or to investigate tax identity theft.

You can request your wage and income transcripts using the IRS Get Transcript tool on IRS.gov. This transcript may be available as early as mid-February of the year after you earned the income, but the transcript may not reflect all of your income until the fall.

Learn more about tax transcripts and how to research your IRS account.

 

Related Topics

Related Resources

Tax Dictionary – First-Time Penalty Abatement

Learn about IRS first-time penalty abatement, a little-known option for certain penalties. Read the IRS definition and more from the experts at H&R Block.

IRS Letter 5042 – Proposed Tax Adjustment

Learn more about IRS Letter 5042 and how to handle an inquiry of your business' income with help from the tax experts at H&R Block.

IRS Notice CP90 – Final Notice of Intent to Levy and Your Right to a Hearing

Learn more about form CP90, why you received it, and how to handle an IRS tax levy notice with help from the tax experts at H&R Block.

How to Get Your Old IRS Forms W-2 and 1099

Need copies of your old Forms W-2 or 1099? Learn about the four different ways to obtain IRS wage and income transcripts from the tax experts at H&R Block.